Business News

Wall Street ends up but off highs after Trump announcement, Fed minutes

NEW YORK (Reuters) - U.S. stocks ended slightly firmer on Wednesday but off the day's highs as worries mounted over President Donald Trump's agenda and minutes from the latest Federal Reserve meeting suggested policymakers are worried about weak inflation. Indexes lost some ground following Trump's disbanding of two high-profile business advisory councils after two more CEOs resigned from the manufacturing council on...

17 Aug 12:04 AM 0 Read More...

U.S. talks tough on trade deficit as NAFTA discussions begin

WASHINGTON (Reuters) - The United States drew a hard line for renegotiating the North American Free Trade Agreement on Wednesday, demanding major concessions aimed at slashing trade deficits with Mexico and Canada and boosting U.S. content for autos. At the start of talks in Washington, U.S. President Donald Trump's top trade adviser, Robert Lighthizer, said Trump was not interested in "a mere tweaking" of the 23-yea...

17 Aug 12:04 AM 0 Read More...

Fed policymakers grow more worried about weak inflation

WASHINGTON (Reuters) - Federal Reserve policymakers appeared increasingly wary about recent weak inflation and some called for halting interest rate hikes until it was clear the trend was transitory, according to the minutes of the U.S. central bank's last policy meeting. The readout of the July 25-26 meeting, released on Wednesday, also indicated the Fed was poised to begin reducing its $4.2 trillion portfolio of Tr...

17 Aug 12:04 AM 0 Read More...

Cisco's security business revenue misses estimates, shares drop

(Reuters) - Cisco Systems Inc's (CSCO.O) quarterly revenue in its closely-watched security business missed analysts' estimates, raising concerns about the world's largest networking gear maker's efforts to transform into a software-focused company. The company's shares fell about 2.5 percent in after-hours trading on Wednesday. With its traditional business of making switches and routers struggling, Cisco, like other...

17 Aug 12:04 AM 0 Read More...

Union Pacific to layoff 750 U.S. employees amid broader cost-cutting

(Reuters) - Union Pacific Corp (UNP.N) said on Wednesday it will cut roughly 500 management jobs and 250 railroad workers by mid-September as the No. 1 U.S. railroad continues broader cost-cutting. The layoffs, which represent about 8 percent of its management force, will largely hit employees in Omaha, Nebraska, where the company is based, but will also affect locations across its network, the company said. The comp...

17 Aug 12:04 AM 0 Read More...

Wall Street pares gains after Trump disbands two advisory councils

(Reuters) - U.S. stocks pared gains on Wednesday afternoon after President Donald Trump said he is disbanding his manufacturing council as well as the strategy and policy forum. Trump's move comes after two more CEOs resigned from the manufacturing council on Wednesday in response to the president's comments on the Charlottesville violence over the weekend. At 13:18 p.m. ET, the Dow Jones Industrial Average .DJI was ...

16 Aug 7:01 PM 0 Read More...

U.S. takes tough lines as NAFTA negotiations begin

WASHINGTON (Reuters) - The United States on Wednesday laid down a tough line for modernizing the North American Free Trade Agreement, demanding major changes to the pact that would reduce U.S. trade deficits with Mexico and Canada and increase U.S. content for autos. Speaking at the start of the talks in Washington, U.S. President Donald Trump's top trade adviser, Robert Lighthizer, said Trump was not interested in "...

16 Aug 7:01 PM 0 Read More...

Fed policymakers grow more worried about weak inflation: minutes

WASHINGTON (Reuters) - Federal Reserve policymakers appeared increasingly wary about recent weak inflation and some called for a halt to further interest rate hikes until it was clear the trend was transitory, according to the minutes of the central bank's last policy meeting. The readout of the July 25-26 meeting, at which policymakers voted unanimously to keep rates unchanged, also showed the Fed increasingly ready...

16 Aug 7:01 PM 0 Read More...

Wall Street opens higher; investors await Fed minutes

(Reuters) - U.S. stocks opened higher on Wednesday, with investors awaiting the Federal Reserve's latest policy meeting minutes for clues on future interest rake hikes this year. The Dow Jones Industrial Average .DJI rose 41.77 points, or 0.19 percent, to 22,040.76. The S&P 500 .SPX gained 5.34 points, or 0.21 percent, to 2,469.95. The Nasdaq Composite .IXIC added 15.49 points, or 0.24 percent, to 6,348.50. Repor...

16 Aug 1:59 PM 0 Read More...

Dollar holds firm before Fed minutes, stocks rise

LONDON (Reuters) - The dollar held on to big gains on Wednesday before minutes of the U.S. Federal Reserve's latest meeting, while European shares followed Asian stocks higher. Relative calm in the standoff between the United States and North Korea also lifted investors' appetite for riskier assets. Metals markets were buoyant, with the price of zinc, used to galvanize steel, hitting its highest in a decade on Chine...

16 Aug 8:55 AM 0 Read More...